Decentralized exchange aggregator Transit Swap reported a hacker attack

The team at decentralized exchange (DEX) aggregator Transit Swap announced that an unknown attacker exploited an internal error in the swap contract and withdrew users’ assets by $21 million.

The platform team apologized to users and said that they are making every effort to trace and return stolen assets:

“We deeply regret that a bug in the code allowed a hacker to steal about $21 million. Blockchain researcher Peckshield narrowed the attack down to a compatibility issue or misplaced trust in the swap contract.”

Representatives of the affected project reported that they had attracted the best experts in blockchain security to search for the attacker and assets. In addition to Peckshield, SlowMist, Bitrace and TokenPocket are also looking for the hacker and assets.

“Now we have a lot of reliable information, such as the hacker’s IP address, email address, and related addresses on the network. We will do our best to trace, try to contact the hacker and help clients recover losses,” the platform team said.

During the investigation of the hack, experts determined by the hacker’s handwriting that he had already carried out cyberattacks on well-known cryptocurrency exchanges in the past. The DEX aggregator team promised to provide more details as soon as possible. So far, the project has not specified the types of stolen assets and whether compensation will be provided to users.

Recently, attackers stole about $1 million from an Ethereum address generated using the Profanity service. Unknown people used the same method as the hackers who hacked one of the largest market makers Wintermute last week and stole assets worth $160 million.